Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,038 shares of the industrial products company’s stock after selling 10,950 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Crown worth $13,021,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CCK. Bank of New York Mellon Corp boosted its position in Crown by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,208,711 shares of the industrial products company’s stock valued at $89,916,000 after purchasing an additional 46,871 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Crown during the second quarter worth about $269,000. Fifth Third Bancorp increased its holdings in shares of Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 176 shares during the period. Hall Laurie J Trustee lifted its position in Crown by 9.6% in the 2nd quarter. Hall Laurie J Trustee now owns 20,880 shares of the industrial products company’s stock valued at $1,553,000 after purchasing an additional 1,825 shares during the last quarter. Finally, Metropolis Capital Ltd acquired a new position in Crown during the 2nd quarter valued at about $29,291,000. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Truist Financial lifted their target price on Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup raised their price target on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Crown from $89.00 to $92.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average price target of $100.21.

Insider Activity at Crown

In other Crown news, Director James H. Miller sold 9,000 shares of Crown stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Crown news, Director James H. Miller sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now directly owns 12,884 shares in the company, valued at approximately $1,068,470.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,500 shares of company stock worth $2,665,695. 0.90% of the stock is owned by corporate insiders.

Crown Price Performance

Shares of NYSE:CCK opened at $89.15 on Friday. The company has a market capitalization of $10.77 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The stock has a fifty day moving average of $82.10 and a 200-day moving average of $80.25. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $94.49.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. Crown’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Crown’s dividend payout ratio is currently 28.82%.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.